(News) –<\/strong> Market anxiety has alleviated slightly as trade tensions between the U.S. and China have eased and the political outlook in Britain has stabilized, but one market analyst said that gold will remain on investors \u2019 radar as uncertainty is not going away in 2020.<\/p>\n\n\n\nA phase one trade deal, no new tariffs on Chinese imports, and a solid majority victory for Boris Johnson \u2019s Conservative Party in the U.K. has reduced some fears in the marketplace, but will still impact investor sentiment in 2020, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said in an interview with Kitco News.<\/p>\n\n\n\n
\u201cBasically this phase one deal will bring trade\nnegations back to neutral territory,\u201d he said. \u201cThe real issues are far from\nresolved and that will continue to add uncertainty to financial markets and\nthat will be good for gold.<\/p>\n\n\n\n
\u201cTrade tensions have eased but they are far from\ngone,\u201d he added.<\/p>\n\n\n\n
Looking at the U.K., Milling-Stanley said that\nalthough Johnson now has a majority to push through Brexit, investors still don\n\u2019t know the impact of leaving the European Union will have on the economy.<\/p>\n\n\n\n
Milling-Stanley added that there is still plenty\nof support for gold in 2020 and he sees the yellow metal embarking on a\nlong-term sustainable rally in a new era of uncertainty. For next year,\nMilling-Stanley said that he sees gold prices trading in a range, between\n$1,450 and $1,600 an ounce.<\/p>\n\n\n\n
\u201cWe have entered an environment of sustainable\nmoderate growth in the gold price for the foreseeable future,\u201d he said.\n\u201cGeopolitical volatility will continue to be part of the background of general\nuncertainty that has been very favorable to gold for several years now.\u201d<\/p>\n\n\n\n
Milling-Stanley \u2019s comments come as gold prices hold relatively steady into the end of the year. February gold futures last traded at $1,479.10, up 15% since the start of the year.<\/p>\n\n\n\n
\u201cIf gold finished the year at current prices we\nwould say that it has had a fabulous year with tremendous gains,\u201d he said.<\/p>\n\n\n\n
In a domino-style effect, Milling-Stanley said\nthat market uncertainty will lead to episodic volatility throughout the year,\nwhich will force the Federal Reserve to maintain low interest rates, keeping\nreal interest rates close to negative territory, which will make gold an\nattractive safe-haven asset.<\/p>\n\n\n\n
Although the Fed has signaled that it is on hold\nfor 2020, Milling-Stanley said that he is not convinced they will be able to\nmaintain a neutral stance in the face of global economic weakness.<\/p>\n\n\n\n
However, he added that even if the Fed does\nraise interest rates next year on improving economic conditions, the impact on\ngold would be limited.<\/p>\n\n\n\n
\u201cWe have entered in a new era of low interest\nrates; that is the broad trend gold investors should focus on and that will\nremain in place despite the odd 25 basis point move from the Fed,\u201d he said. \u201cI\ndon \u2019t think inflation is going to go lower so the interest rate environment in\nreal terms is going to be even more favorable for gold.\u201d<\/p>\n\n\n\n
Milling-Stanley added that he is also bullish on gold as economists are expecting to see a recovery in emerging markets, which should lead to increased jewelry demand in critical gold markets.<\/p>\n\n\n\n
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A phase one trade deal, … Continue reading “Trade wars and Brexit not yet resolved; market uncertainty will continue to support gold prices in 2020 – State Street Global Advisors”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-264","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nTrade wars and Brexit not yet resolved; market uncertainty will continue to support gold prices in 2020 - State Street Global Advisors - Gold Silver Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldsilverdesk.com\/news\/trade-wars-and-brexit-not-yet-resolved-market-uncertainty-will-continue-to-support-gold-prices-in-2020-state-street-global-advisors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade wars and Brexit not yet resolved; market uncertainty will continue to support gold prices in 2020 - State Street Global Advisors\" \/>\n<meta property=\"og:description\" content=\"December 13, 2019, Neils Christensen (News) – Market anxiety has alleviated slightly as trade tensions between the U.S. and China have eased and the political outlook in Britain has stabilized, but one market analyst said that gold will remain on investors \u2019 radar as uncertainty is not going away in 2020. 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